FMDQ Admits Mixta Real Estate Plc and CardinalStone Partners Limited Commercial Papers


Monday, September 14, 2020 / 5:56 PM / FMDQ / Header Image Credit: FMDQ Academy

The FMDQ Exchange has admitted commercial papers (CPs) of two new issues to its trading platform namely the Mixta Real Estate PLC N2.39bn Series 28 Commercial Paper under its N20.00bn Commercial Paper Issuance Programme and the CardinalStone Partners Limited N5.00bn Series 1 Commercial Paper under its N10.00bn Commercial Paper Issuance Programme.

The Mixta Real Estate PLC and CardinalStone Partners Limited CPs would be used to finance the issuers' short-term funding requirements. The CPs, like all other securities listed and traded on the platform, would be available to a global market through the FMDQ Exchange website and trading systems; investors would hope to see trading transparency through its inclusion on FMDQ's daily quotations list and governance and disclosure information to protect their interest; they would also expect credible price formation amongst other benefits from the Exchange.

Commenting on this debut CP issuance, CardinalStone Partners Limited representing the issuer stated: "The admission of the Issuance by CardinalStone on the Exchange will allow the Company consolidate its position as a credible borrower from institutional investors and one of the few non-bank affiliated financial services businesses that have accessed the debt capital markets. More importantly, the Issuance will form part of the Company's strategy to diversify its financing mix and to fund its working capital requirements".

Proshare Nigeria Pvt. Ltd.

Related News

1.         Average Yield Declines 24bps W-o-W to 1.7% on Strong Demand from Investors at PMA

2.        Anchoria Fixed Income Monitor: Bullish Sentiment in the Bond Market

3.        A Manageable Rise in the FGN's Domestic Debt

4.        CBN OMO Auction Rates Remain Unchanged Despite Heavy Demand

5.        Nigeria's Public Debt Stock Stood At N31.01trn As of June 2020

6.   Nigerian Treasury Bills Rates Drop By 20bps As Primary Auction Is Oversubscribed

7.        FMDQ Explores Nigeria's Debt Market for Infrastructure Development

8.       The Naira Consolidates Recent Gains As The CBN Resumes BDC Sales

9.        Treasury Bill Auction Holds Wednesday September 9th, 2020

10.    PMA Holds This Wednesday, Demand Drives Bullish Sentiment as Average NT-Bills Yield Drops to 1.9%

Proshare Nigeria Pvt. Ltd.

Related News